Promising Companies Market to boost SMEs, startup financing

12/08/2025 05:09 AST

Senior officials from the Financial Services Authority (FSA) and the Muscat Stock Exchange (MSX) have hailed the issuance of the Promising Companies Market regulations as a milestone in Oman's capital market development, saying the new sub-market at the Muscat Stock Exchange will expand funding opportunities for start-ups, SMEs and family-owned businesses, and advance the goals of Oman Vision 2040.

Ahmed Ali al Maamari, Executive Vice-President of the Financial Services Authority (FSA), affirmed that the issuance of the Promising Companies Market regulations marks a major step forward in the Capital Market Incentive Programme. This initiative, he said, aligns with the objectives of Oman Vision 2040 to advance economic diversification and foster a more attractive investment climate.

On Sunday, the FSA - the regulator of Oman's capital market and insurance sector - issued a decision to promulgate the Regulation for the Promising Companies Market. This follows Royal Decree No 18/2025, which established a secondary market within the Muscat Stock Exchange (MSX) under the name Promising Companies Market. The decision is in line with Royal Directives to launch the Capital Market Incentive Programme.

In his statement to Oman News Agency, Maamari explained that the new regulations create a flexible framework enabling private, family-owned, start-up and SME companies to access alternative funding tools within a transparent and agile investment environment. This will generate diverse financing opportunities in the domestic market to support business growth and expansion.

He noted that the Capital Market Incentive Programme comprises three main tracks, one of which is the establishment of the Promising Companies Market as a sub-market of the Muscat Stock Exchange. Together with the regulations, this new market will offer more flexible financing options, helping companies reach higher levels of institutional maturity and achieve sustainable expansion.

The regulations set out clear and simplified listing requirements for early-stage companies, including specified annual growth rates, a minimum number of shareholders, and fixed, publicly disclosed fees. This approach aims to lower market entry barriers and enhance the efficiency of institutional transformation for these businesses.

Maamari urged private sector companies meeting the listing criteria to explore the funding and listing opportunities available through the new market.

Haitham Salem al Salmi, CEO of the Muscat Stock Exchange, said the creation of the Promising Companies Market represents a significant structural advancement in Oman's capital market ecosystem. "It offers a dedicated funding channel for start-ups, SMEs and family-owned private firms through a phased regulatory process, enabling them to transition efficiently and sustainably to the main market".

Salmi added that the Muscat Stock Exchange, as market operator, will provide a comprehensive trading environment supported by advanced technological infrastructure and flexible disclosure models suited to the growth stage of these companies.

"The exchange will also implement governance standards tailored to this segment, bolstering confidence among qualified investors and stimulating market liquidity," Salmi added.

He emphasised that this initiative supports the exchange's strategy to broaden the investor base and diversify investment tools and products. This will enhance companies' access to capital, strengthen institutional maturity, and ultimately boost the national economy's competitiveness while advancing Oman Vision 2040 goals for private sector growth and attracting quality investment.

Muscat Daily